Auto truck group

DETROIT (Reuters) - Ford Motor Co’s (F.N) quarterly earnings will be affected by shutdowns at three U.S. truck plants caused by a fire at a key parts supplier, the U.S. automaker said on Wednesday, while affirming its full-year earnings estimate. The Ford logo is seen at the New York Auto Show in the Manhattan borough of New York City, New York, U.S., March 29, 2018. REUTERS/Shannon Stapleton “We’re confident that any impacts will be short term,” said Joe Hinrichs, president of Ford global operations, in a media call late Wednesday. Hinrichs and purchasing director Hau Thai Tang said Ford was working with the supplier, Chinese-owned Meridian Magnesium Products, to shift production of the affected parts to other suppliers until the fire-damaged plant in Eaton Rapids, Michigan, can be repaired and production resumed. A Meridian plant in Strathroy, Ontario, is among those sites that will temporarily make lightweight parts for the Ford F-150 and Super Duty … [Read more...] about Ford says lost truck production will hit second quarter earnings

DETROIT (Reuters) - Ford Motor Co (F.N) is working with a key supplier to shift some parts production from Michigan to Ontario, Canada, after a fire and subsequent parts shortages forced the automaker to halt manufacturing of its highly profitable full-size pickups, according to sources familiar with the companies’ plans. The Ford logo is seen at the New York Auto Show in the Manhattan borough of New York City, New York, U.S., March 29, 2018. REUTERS/Shannon Stapleton The supplier, Chinese-owned Meridian Magnesium Products, said it is “working with the customers” - automakers affected by the fire - to move some of its tooling to a plant in Strathroy, Ontario, in a letter on an internal employee website and signed by George Asher, manager of Meridian’s Eaton Rapids plant in Michigan. The fire, whose cause is under investigation by local authorities, triggered smaller production disruptions to other vehicle manufacturers, including General Motors Co … [Read more...] about Ford scrambles to restart truck production after fire at supplier

WASHINGTON (Reuters) - The latest U.S. proposal for increasing NAFTA’s regional automotive content would carry a four-year phase-in to meet a higher, 75 percent regional value threshold and new labor content rules requiring substantial work at wages of $16 an hour or higher. Flags of Canada, Mexico and the U.S. are seen before a joint news conference on the closing of the seventh round of NAFTA talks in Mexico City, Mexico March 5, 2018. REUTERS/Edgard Garrido A summary of the proposal, seen by Reuters and circulating among auto industry officials based on descriptions from Canadian and Mexican trade negotiators, would require the $16 wage on work comprising 40 percent of the value of light-duty passenger vehicles and 45 percent for pickup trucks. The U.S. plan would allow automakers to count the high salaries paid for engineering, research, sales, software and product development jobs towards 15 percentage points of these goals, a provision that benefits Detroit … [Read more...] about U.S. wants 4-year phase-in for higher NAFTA auto content thresholds

MEXICO CITY (Reuters) - A U.S. proposal that automobiles should be built in high-wage areas within the NAFTA region is partly aimed at increasing engine production in the United States, and more details on the plan are expected this week, Mexican officials said. FILE PHOTO - An associate is seen working in the connecting rod area during a tour of the Honda automotive engine plant in Anna, Ohio October 11, 2012. REUTERS/Paul Vernon In an idea aimed at breaking a deadlock in talks, Washington last month suggested some automotive production should happen in areas of North America paying higher salaries. U.S. negotiators discussing changes to the North American Free Trade Agreement (NAFTA) floated the idea that 40 percent of automotive production must happen in areas paying wages of between $16 to $19 per hour, Fausto Cuevas, the director general of auto industry group AMIA, said on Tuesday. The negotiators have also indicated a preference that motors be built in the United … [Read more...] about Mexico awaits details of plan to bring auto engines to U.S.,…

MEXICO CITY (Reuters) - A U.S. proposal that automobiles should be built in high-wage areas within the NAFTA region is partly aimed at increasing engine production in the United States, and more details on the plan are expected this week, Mexican officials said. FILE PHOTO - An associate is seen working in the connecting rod area during a tour of the Honda automotive engine plant in Anna, Ohio October 11, 2012. REUTERS/Paul Vernon In an idea aimed at breaking a deadlock in talks, Washington last month suggested some automotive production should happen in areas of North America paying higher salaries. U.S. negotiators discussing changes to the North American Free Trade Agreement (NAFTA) floated the idea that 40 percent of automotive production must happen in areas paying wages of between $16 to $19 per hour, Fausto Cuevas, the director general of auto industry group AMIA, said on Tuesday. The negotiators have also indicated a preference that motors be built in the United … [Read more...] about Mexico awaits details of plan to bring auto engines to U.S., officials